Cathay kickstarts Hong Kong cargo terminal

CATHAY Pacific has restarted its development of a Hong Kong air cargo terminal.

The HK$5.5 billion (US$707 million) project was postponed for two years due to the global airfreight slump.

“The main contract for this development has been let and we are on schedule for opening in 2013,” said Cathay’s chairman, Christopher Pratt. By that time the company’s freighter fleet will have expanded by an additional 10 747-8s

Cathay has also just finalised plans to form a joint venture cargo airline with Air China to muscle into the market around the industrial Yangtze River Delta region.

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